OMAHA, Neb. (Chambana Today) — Omaha Steaks President and CEO Nate Rempe warned on November 17, 2025, that Americans should brace for a sharp rise in beef prices, with ground beef possibly reaching $10 per pound by the third quarter of 2026.
“The herd is at a 70-year low, demand is at an all-time high, and the result is prices are through the roof,” Rempe said during an interview on Fox News’ “Mornings with Maria.” He noted that despite recent efforts to boost supply, the industry won’t see significant price drops until 2027. “It’s going to be tough on families. That’s going to be quite a shock,” he added.
The warning comes amid a nationwide drought that has decimated cattle inventory, leading to the highest beef prices on record. Data from the U.S. Bureau of Labor Statistics reveals that beef and veal prices rose 14.7% year-over-year in September, with ground beef up 12.9%.
Additionally, Rempe explained that ranchers are engaging in heifer retention, a strategy where female cattle are kept to grow the herd instead of being sent to market. While this could help build supply in the future, it means fewer cattle are currently available, pushing prices higher.
In the backdrop of these challenges, the White House recently announced new trade agreements with Argentina that could lower tariffs on Argentine beef, though U.S. import quotas remain unchanged. President Donald Trump also called for a Department of Justice investigation into possible price manipulation by meatpacking companies that could be driving up beef prices.